EUR/USD - Not much to add here. We are still hoovering near resistance at 139.36. I still regards the rally as very weak and will continue to look for a break below 138.24 to confirm, that a top is in place. A break below 138.24, should open for a decline to important resistance at 136.55.
S&P 500 - After bearking above the 50% retracement target, we are now seeing a challenge of the 61.8% retracement target at 1,258. I'm still surprised to see the strength of the rally, but we will have to obey the Market and wait for a break below 1,226.42 and more importantly 1,197.34 to confirm, that a top is in place.
Gold - Is still in a weak consolidation, which should ultimatly resolve it self to the downside for a test of the important support near 1,530. A break below 1,634 should confirm a new test of support at 1,605 on the way to 1,530.
Crude Oil - Has once again surprised. Breaking above 90.05 has opened for a continuation higher towards the 50% retracement target at 94.84 and maybe even the 61.8% retracement target at 99.57. At this point only a break below 88.82 will ease the upsideside pressure.
EUR/USD - Not much to add here. We are still hoovering near resistance at 139.36. I still regards the rally as very weak and will continue to look for a break below 138.24 to confirm, that a top is in place. A break below 138.24, should open for a decline to important resistance at 136.55.
S&P 500 - After bearking above the 50% retracement target, we are now seeing a challenge of the 61.8% retracement target at 1,258. I'm still surprised to see the strength of the rally, but we will have to obey the Market and wait for a break below 1,226.42 and more importantly 1,197.34 to confirm, that a top is in place.
Gold - Is still in a weak consolidation, which should ultimatly resolve it self to the downside for a test of the important support near 1,530. A break below 1,634 should confirm a new test of support at 1,605 on the way to 1,530.
Crude Oil - Has once again surprised. Breaking above 90.05 has opened for a continuation higher towards the 50% retracement target at 94.84 and maybe even the 61.8% retracement target at 99.57. At this point only a break below 88.82 will ease the upsideside pressure. 
No comments:
Post a Comment